LONDON - Guardian Metal Resources PLC (LON:GMET/OTCQB:GMTLF), a mineral exploration and development company operating in Nevada, announced today the exercise of warrants that will inject £17,000 into the company. The warrants, exercised at 17p per share, will result in the issuance of 100,000 new ordinary shares.
The additional shares are slated to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) around January 6, 2025. These shares will have equal standing with the existing ordinary shares currently traded.
Following the admission of the new shares, Guardian Metal's issued share capital will reach 122,506,991 ordinary shares of 1p each. This figure will serve as the total voting rights in the company, which shareholders can use to assess whether they need to disclose changes in their company interest, in compliance with the Financial Conduct Authority's Disclosure and Transparency Rules.
The exercise of warrants is a routine financial transaction for companies like Guardian Metal, allowing them to raise capital by offering existing shareholders the right to purchase additional shares at a set price. This capital infusion can be used to fund operations, invest in new projects, or improve the company's balance sheet.
This financial move comes as part of Guardian Metal's strategic efforts to develop its mineral resources in a region that has historically been rich in minerals. The company's focus on Nevada underscores the state's ongoing importance in the mining sector.
The information about the warrant exercise is based on a press release statement from Guardian Metal Resources PLC.
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